Everest Group (NYSE:EG) Price Target Lowered to $499.00 at Barclays

Everest Group (NYSE:EG - Free Report) had its price target cut by Barclays from $517.00 to $499.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company lowered their price objective on Everest Group from $402.00 to $390.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 4th. TD Cowen dropped their price objective on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a report on Monday, November 18th. Jefferies Financial Group downgraded Everest Group from a "buy" rating to a "hold" rating and raised their target price for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. BMO Capital Markets lowered their price target on shares of Everest Group from $383.00 to $372.00 and set a "market perform" rating on the stock in a research note on Thursday, November 14th. Finally, UBS Group upgraded shares of Everest Group to a "hold" rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $428.00.

Everest Group Stock Performance

Shares of EG stock traded down $3.76 during mid-day trading on Monday, hitting $361.38. The stock had a trading volume of 354,447 shares, compared to its average volume of 322,782. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The company's 50-day simple moving average is $368.14 and its 200-day simple moving average is $377.39. The firm has a market cap of $15.53 billion, a PE ratio of 5.66, a PEG ratio of 2.69 and a beta of 0.65.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. Everest Group's dividend payout ratio is presently 12.52%.

Insider Transactions at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the firm's stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. The trade was a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. M&R Capital Management Inc. purchased a new position in shares of Everest Group during the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC raised its stake in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock worth $31,000 after purchasing an additional 52 shares during the period. Eastern Bank acquired a new position in shares of Everest Group in the 3rd quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in shares of Everest Group during the 3rd quarter valued at $39,000. Finally, American National Bank & Trust increased its holdings in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company's stock worth $49,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.